It’s been three months since the federal government resumed student loan payments, but many borrowers have refused to pay a single penny...
Activists say borrowers have staged a “massive student debt strike” as they await progress—any progress—on the White House’s student loan forgiveness program.
“Faced with the impossible choice of feeding their kids, keeping a roof over their head, or throwing an average of $400 a month into the Department of Education incinerator, borrowers are rightly choosing to keep themselves and their families financially afloat,” said Astra Taylor, co-founder of Debt Collective, a union advocating on behalf of debtors.
According to the Department of Education, 22 million borrowers had payments due in October but only 13 million settled their bills.
That means 40% of borrowers failed to make payments.